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American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 78731572:MV80Mzc1MzEyXzc5NjQ4NTIxXzhGRDk2RkJC] [quote:Anonymous Coward 78861367:MV80Mzc1MzEyXzc5NjQ3ODA3XzQzNzJCMDk=] [quote:Lady Jayne Smith:MV80Mzc1MzEyXzc5NjQ3Njg0XzVGNzlEREIx] That increase in net worth likely came from things like precious metal holdings. [/quote] Article doesn't breakdown the increase. Suggests it's part of tax break trend. "In the background is the fact that since 1980, the taxes paid by billionaires, measured as a percentage of their wealth, dropped 79%. “We’re reading about benevolent billionaires sharing .0001% of their wealth with their fellow humans in this crisis, but in fact they’ve been rigging the tax rules to reduce their taxes for decades." [/quote] Yes - and for the next few years it is going to be middle and working class that pull the economy up with their taxes and hard work. Even more so if conservatives stay in power. [/quote]
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"Though the coronavirus itself may not discriminate in terms of who can be infected, the COVID-19 pandemic is far from a great equalizer. In the same month that 22 million Americans lost their jobs, the American billionaire class’s total wealth increased about 10%—or $282 billion more than it was at the beginning of March. They now have a combined net worth of $3.229 trillion."
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